The only reason MS hasn't taken down all of the warez sites isn't because its leagal but because they are not worth the effort. Besides a if it wasn't for the rampint piracy of MS products there wound't be nearly as many MCSE which ould lead t oless market expousre for MS.

That beening said remember every time you steal software (and warez=theft) you are taking food away form some programmers kids. This is especialy true for games, a lot of the programers get royelties from each copy sold.